China's economy picks up in June on rebounding U.S. exports
China economy shows June recovery as U.S. shipments lift factories and retail See why external demand drove the rebound and what mid-July data may confirm
China’s economy showed signs of improving in June, helped by stronger shipments to the U.S., according to the China Beige Book and other analysts.
The survey said manufacturing and retail sales recovered from the previous month, with factory activity accelerating and U.S.bound orders rising sharply year over year. It also noted stronger luxury goods sales, although tourismrelated spending remained weak.
Economists said the rebound was still driven mainly by external demand, with exporters moving goods ahead of possible tariff changes. China is due to release official June trade, retail sales and industrial data in midJuly, which will provide a clearer picture of whether the recovery continues.